{"id":2144979,"date":"2025-10-13T07:34:54","date_gmt":"2025-10-13T06:34:54","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/yorkshire\/?p=2144979"},"modified":"2025-10-13T08:26:55","modified_gmt":"2025-10-13T07:26:55","slug":"engineering-group-makes-a-gem-of-an-acquisition","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/yorkshire\/news\/2144979-engineering-group-makes-a-gem-of-an-acquisition","title":{"rendered":"Engineering group makes a gem of a deal"},"content":{"rendered":"<p><span style=\"font-family: 'Calibri',sans-serif\">Engineering group Renew Holdings has acquired specialist overhead line maintenance and repair company, Emerald Power, in a \u00a312.3m deal.<\/span><\/p>\n<p><span style=\"font-family: 'Calibri',sans-serif\">The deal was executed through Leeds-based Renew\u2019s subsidiary, Excalon Holdings, and is expected to be immediately earnings enhancing.<\/span><\/p>\n<p data-start=\"321\" data-end=\"652\"><span style=\"font-family: 'Calibri',sans-serif\">The initial cash consideration of \u00a37.8m was funded from Renew\u2019s existing banking facilities and is based on Emerald Power\u2019s adjusted EBITDA of \u00a31.9m for the year ending July 31, 2025. An additional \u00a34.5m is contingent upon the achievement of specific profit targets and the vendors remaining with the business.<\/span><\/p>\n<p data-start=\"654\" data-end=\"1052\"><span style=\"font-family: 'Calibri',sans-serif\">Cheshire-based Emerald Power\u2019s expertise in maintaining and upgrading electricity networks for distribution network operators (DNOs) in the North West complements Excalon\u2019s capabilities in high and extra-high voltage infrastructure. <\/span><\/p>\n<p><span style=\"font-family: 'Calibri',sans-serif\">The acquisition enables Renew to expand into the fast-growing overhead line maintenance and repair market, enhancing its position in the regulated electricity distribution sector.<\/span><\/p>\n<p data-start=\"1054\" data-end=\"1340\"><span style=\"font-family: 'Calibri',sans-serif\">The UK electricity sector is experiencing significant investment to support the government&#8217;s target of decarbonising the electricity grid by 2030. The RIIO-ED2 regulatory funding cycle, which commenced in April 2023, has allocated \u00a322.2bn to the distribution grid through to 2028.<\/span><\/p>\n<p data-start=\"1342\" data-end=\"1965\"><span style=\"font-family: 'Calibri',sans-serif\">Renew Holdings CEO Paul Scott, said: \u201cThis acquisition represents a strong strategic fit for the Group, enabling our expansion into the rapidly growing overhead line maintenance and repair market.\u201d He further added, \u201cIt will bolster our existing well-established position in the regulated electricity distribution sector, with Excalon, and we are now increasingly well placed to capitalise on the significant levels of investment being directed into the market in support of the government&#8217;s commitment to decarbonising the UK&#8217;s electricity grid before 2030.\u201d<\/span><\/p>\n<p data-start=\"1967\" data-end=\"2140\"><span style=\"font-family: 'Calibri',sans-serif\">The acquisition aligns with Renew\u2019s strategy of targeting end markets where maintenance and renewals programmes benefit from long-term, non-discretionary funding programmes.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renew Holdings acquires Emerald Power in a  \u00a312.3m deal<\/p>\n","protected":false},"author":271992,"featured_media":2129942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57362,53262],"coauthors":[137100],"class_list":["post-2144979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-business-news","tag-featured-story","tag-northwest","tag-top-story","tag-yorkshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Engineering group makes a gem of a deal | TheBusinessDesk.com<\/title>\n<meta name=\"description\" content=\"Renew Holdings acquires Emerald Power in a 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